Product Overview of Pleo
Pleo is a comprehensive cloud-based expense management platform designed to streamline and optimize business spending for companies of all sizes. Here’s a detailed look at what Pleo does and its key features:
What Pleo Does
Pleo revolutionizes the way businesses manage expenses by providing smart company cards, automated expense tracking, and integrated financial management tools. It enables employees to make necessary purchases without using personal funds, while giving finance teams and administrators full control and visibility over company spending.
Key Features and Functionality
Smart Company Cards
Pleo offers physical, temporary, virtual, and vendor-specific cards that allow employees to make work-related purchases. These cards can be managed remotely, with adjustable spending limits and customizable approval workflows to prevent overspending and unauthorized transactions.
Expense Tracking and Management
- Real-Time Expense Tracking: Pleo allows businesses to monitor expenses in real-time, ensuring immediate visibility into where and how money is being spent. This feature helps in identifying potential issues quickly and taking prompt action.
- Automated Expense Reports: The platform automates the creation of expense reports by capturing and categorizing expenses automatically. This saves significant time for both employees and finance teams and reduces the risk of errors.
Invoices and Reimbursements
- Invoices: Pleo provides an automated accounts payable solution that allows businesses to capture, process, approve, pay, and bookkeep invoices efficiently.
- Reimbursements: The platform simplifies the tracking, review, and management of reimbursements between employees and the business.
Analytics and Reporting
- Analytics Dashboard: Pleo offers a detailed analytics dashboard that provides real-time overviews of company expenses. This allows businesses to build customized reports, track spending by category or employee, and make informed financial decisions.
Integrations
Pleo integrates seamlessly with a wide range of accounting software, including Xero, QuickBooks, Sage, Microsoft Dynamics 365, and many others. These integrations ensure that all expenses are accurately recorded and accounted for in the company’s financial records.
Spend Controls
- Custom Spending Limits: Businesses can set individual spending limits for each employee card, ensuring adherence to budgets and preventing overspending.
- Multi-Step Approvals: Pleo allows for the setup of multi-level approval processes for certain transactions, adding an extra layer of security and control.
Mobile and Desktop Accessibility
- Mobile Apps: Pleo offers mobile apps for iOS and Android, enabling employees to capture receipts on the go and receive instant notifications as they spend. Admins can also manage the company’s wallet balance, recent expenses, and manually add expenses through the app.
Additional Features
- Digital Wallets: Pleo supports digital wallets like Google and Apple Pay, facilitating one-click merchant payments.
- Pocket Feature: This feature allows for the tracking of out-of-pocket expenses, mileage, and expenses paid with company cash, ensuring all expenses are accounted for.
Benefits
- Time Savings: Pleo automates many aspects of expense management, saving finance teams and administrators up to 138 hours per year.
- Financial Efficiency: The platform provides a centralized view of all business spending, helping companies stay within budget and make smarter financial decisions.
- Security and Control: With customizable spending limits, real-time tracking, and multi-step approvals, Pleo ensures that businesses have full control over their finances and reduces the risk of fraud.
In summary, Pleo is a robust expense management solution that combines smart company cards, automated expense tracking, and integrated financial tools to streamline business spending, enhance financial efficiency, and provide comprehensive control over company finances.